New Delhi, The deadline to link Permanent Account Number (PAN) with Aadhaar is December 31, and failure to do so may result in the PAN becoming inactive after this date.

Taxpayers who have not completed the linking process are advised to act promptly to avoid financial and compliance-related difficulties.

According to a notification issued by the Income Tax Department on April 3, 2025, individuals who were allotted a PAN on or after October 1, 2024, are required to link their PAN with Aadhaar by December 31, 2025.

For all other PAN holders, the original deadline for linking PAN with Aadhaar was May 31, 2024.

If the PAN–Aadhaar linking is completed on or before December 31, a penalty of Rs 1,000 will be applicable, as the original deadline has already passed.

However, failure to link even after this date could lead to the PAN being deactivated.

An inactive PAN can cause several problems for taxpayers. Filing income tax returns may become difficult, and those awaiting refunds could see their refunds getting stuck.

In such cases, taxpayers may have to go through a lengthy process, including applying for a new PAN, to resolve the issue.

Additionally, non-linking of PAN with Aadhaar may result in higher rates of Tax Deducted at Source (TDS) and Tax Collected at Source (TCS).

Taxpayers may also lose access to Form 26AS and may not receive TDS or TCS certificates.

Banking and financial transactions can also be severely affected. Individuals with an inactive PAN may not be able to open bank accounts, obtain credit or debit cards, deposit cash exceeding Rs 50,000, or carry out bank transactions above Rs 10,000.

Know Your Customer (KYC) processes may also remain incomplete, leading to denial of various government services.

Moreover, investments in mutual funds and equities could be halted, adding to the financial inconvenience.

Given the wide-ranging implications, taxpayers are strongly advised to link their PAN with Aadhaar before the December 31 deadline to avoid disruption.
Gold, silver surpass record high amid US‑Venezuela tensions, Fed rate cut hopes

Mumbai, The gold prices surged over 0.5 per cent to hit record highs on Wednesday, pushing above $4,500 an ounce due to escalating US‑Venezuela tensions and expectations for more US rate cuts next year.

MCX gold February futures rose 0.44 per cent to Rs 1,38,485 per 10 grams, while MCX silver surged 1.79 per cent to a record high of Rs 2,23,593 per kilogram (as of 10.05 am).

The dollar index had declined 0.20 per cent during the session, making gold cheaper in overseas currencies.

“Spot gold surged past the psychological $4,500 per ounce milestone, propelled by safe-haven demand and rate cut expectations. Silver touched a fresh all-time high and surged beyond $72,” said Devarsh Vakil, Head of Prime Research at HDFC Securities.

Silver has gained 24 per cent in December and 135 per cent year-over-year, reflecting tight supply-demand fundamentals and robust safe-haven flows, Vakil added.

Domestic spot gold prices have surged over 76 per cent year‑to‑date and international gold prices over 70 per cent in 2025, on track for their strongest annual performance since 1979.

Platinum traded above $2,300 an ounce for the first time in several decades, while palladium also recorded gains.

The US Coast Guard this month seized a super tanker under sanctions carrying Venezuelan oil and tried to intercept two more Venezuela‑related ships over the weekend heightening tensions.

Killing of a Russian army general in a bomb attack on Monday also contributed to increased geo-political risk and supported gold and silver.

Gold has support at Rs 1,35,550-Rs 1,34,710 zone, while silver has support at Rs 2,11,150-Rs 2,10,280 zone, according to analysts.

Aggressive central bank buying, expectations of US Fed rate cuts, concerns over impact of US tariffs, geopolitical tensions, and robust inflows into gold and silver ETFs drove the gold and silver prices this year.